Any exterior areas associated with a short-term rental property, such as balconies, patios, gardens, or pools. Well-maintained and appealing outdoor spaces can enhance the guest experience and justify higher rental rates.
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Glossary Term: Property Value
23 posts
Some insurance companies or lenders might have minimum property value requirements for short-term rental insurance or mortgages.
A popular amenity in short-term rentals, offering guests a luxurious and relaxing experience, often associated with higher rental rates.
Thorough cleaning, inspections, and any necessary repairs or updates conducted at the end of the year to prepare a short-term rental property for the upcoming season.
Windows designed to withstand high winds and flying debris, offering increased safety and security for properties in hurricane-prone areas, a desirable feature for short-term renters seeking peace of mind.
Scenic vistas and attractive surroundings that enhance the desirability and value of a short-term rental property.
Regularly updating and replacing furniture and decor to maintain a fresh and inviting atmosphere for guests and prevent wear and tear.
Regular upkeep and repairs to ensure the property remains in good condition, addressing any issues promptly to prevent guest inconvenience and maintain property value.
A significant upgrade or renovation to a property that increases its value, lifespan, or functionality.
An accounting method that allows property owners to deduct a portion of the property’s value each year to account for wear and tear.
A desirable characteristic of short-term rental properties, referring to their proximity to popular tourist attractions, landmarks, or points of interest.